3.1. Limits for investing

3.1.1.    Digital Asset Service Provider is required to ensure effective monitoring systems and control measures (monitoring) to prevent individual Retail Clients - residents of the Republic of Kazakhstan from depositing more than 1,000 (one thousand) USD within one calendar month. If individual Retail Clients - residents of the Republic of Kazakhstan pass the relevant testing conducted by the Digital Asset Service Provider, confirming the knowledge, experience, and qualifications in the field of high-risk investment, the depositing above of the aforementioned limit is allowed.

3.1.2.    A Digital Asset Service Provider shall have policies and procedures for supervising compliance with the requirements of rule 3.1.1 above.

3.1.3.    A Digital Asset Service Provider ensures compliance with the limits on investments in Digital Assets by individual Retail Clients - residents of the Republic of Kazakhstan in good faith, with due diligence and duty of care, as provided under rule 3.1.1 above, through efficient and comprehensive exchange of information between Digital Asset Service Providers. When exchanging information (data) about limits with another Digital Asset Service Provider, the Digital Asset Service Provider ensures the accuracy, reliability, completeness, and timeliness of such information.

Guidance: Calculation of the limit

Only purchase transactions of Digital Assets in the jurisdiction of the Centre are taken into account when calculating the limit. 

3.1.4.    Staking services are provided by an Operator of Digital Asset Trading Facility and a Digital Asset Service Provider to individual Retail Clients - residents of the Republic of Kazakhstan, taking into account the requirements of rule 3.1.1 of these Rules and provisions of rule 2.13.3 of the AIFC Rules On Digital Asset Activities dated September 10, 2023 (AIFC Rules No. FR00062 of 2023). 

3.1.5.    Digital asset staking services are provided to legal entities — residents of the Republic of Kazakhstan if they are classified as Professional Clients in accordance with the requirements of rule 2.3. of the AIFC Conduct of Business Rules dated December 10, 2017 (AIFC Rules No. FR0005 0f 2017).

3.1.6.    A Digital Asset Trading Facility Operator is allowed to provide margin trading services with Digital Assets to individual Retail Clients - residents of the Republic of Kazakhstan, in compliance with the requirements of rule 3.1.1. of these Rules, as well as in accordance with the rules 4.2.1., 8.2.6., 8.2.21., 8.2.22., 8.3.11., Schedule №2 of the AIFC Conduct of Business Rules dated December 10, 2017 (AIFC Rules No. FR0005 0f 2017) and rules 2.7.4., 2.7.2. of the AIFC Rules On Digital Asset Activities dated September 10, 2023 (AIFC Rules No. FR00062 of 2023).

A Digital Asset Trading Facility Operator within margin trading provides to Retail and Professional Clients the right to trade on margin within the limits set for these Client categories, while the Client's loss cannot exceed the pre-funded amount.

3.1.7.     A Digital Asset Trading Facility Operator and a Digital Asset Service Provider are allowed to provide services to Clients with derivative instruments (Digital Asset Derivatives) on Digital Assets, subject to compliance with the requirements of rules 2.8.8., 3.6.3. and 3.9.2. of the AIFC Rules On Digital Asset Activities dated September 10, 2023 (AIFC Rules No. FR00062 of 2023).

3.1.8.     A Digital Asset Trading Facility Operator and Digital Asset Service Provider must not offer or provide any facility or service that allows their Clients its facility to lend a Digital Asset to another Person unless it is reasonably satisfied that the Client is a Professional Client. 

3.1.9.     A Digital Asset Service Provide and Digital Asset Trading Facility Operator are prohibited to provide services to an individual and a legal entity – a resident of the Republic of Kazakhstan by conducting Crypto - lending operations by attracting fiat through providing Digital Assets as a Collateral.

3.1.10.  Legal entities - residents of the Republic of Kazakhstan can be Clients of Digital Asset Service Providers only if they are miners/mining pools or if they are classified as Professional Clients in accordance with the requirements of rule 2.3. of the AIFC Conduct of Business Rules dated December 10, 2017 (AIFC Rules No. FR0005 0f 2017).

3.2. Requirements for AML/CFT/FPWMD systems of Digital Asset Service Providers and other provisions in the field of AML/CFT/FPWMD

3.2.1   Digital Asset Service Providers authorised by the Centre are subject to the Acting law of the Centre and the legislation of the Republic of Kazakhstan in the field of counteraction of money laundering, terrorist financing and financing the proliferation of weapons of mass destruction.

3.2.2. Assessment of the risks of legalization (laundering) of proceeds and financing of terrorism and proliferation of weapons of mass destruction (hereinafter — LP/FT/FPWMD) is conducted in order to identify vulnerabilities, threats and opportunities for the legalization (laundering) of proceeds and financing of terrorism through the inter-jurisdictional cryptofiat system, identify shortcomings in the implementation of measures to counteract the legalization (laundering) of proceeds and financing of terrorism in the inter-jurisdictional cryptofiat system, and such an assessment is conducted as part of the national assessment risks of ML/FT/FPWMD, taking into account the provisions set out by Article 11-1 of the Law of the Republic of Kazakhstan № 191-lV "On counteraction to legalisation (laundering) of proceeds of crime and terrorism financing"  dated August 28, 2009.

3.3 Capital Requirements for Digital Asset Service Providers

3.3.1.  Digital Asset Service Providers are required to provide a minimum amount of capital in accordance with rules 2.2. and 3.2 of the of the AIFC Rules On Digital Asset Activities dated September 10, 2023 (AIFC Rules No. FR00062 of 2023).

3.3.2. The amounts of minimum capital of Digital Asset Service Providers are specified in Schedule 2 to these Rules.

3.4. Settlement and clearing mechanisms

3.4.1. A Digital Asset Trading Facility Operator must ensure that satisfactory arrangements are made for securing the timely discharge (whether by performance, compromise or otherwise), clearing and settlement of the rights and liabilities of the parties to transactions effected on its facility (being rights and liabilities in relation to those transactions).

3.4.2. A Digital Asset Trading Facility Operator must ensure clearing and settlement of transactions on its facility exclusively with Fiat Currencies or Digital Assets admitted to trading.

3.4.3. A Digital Asset Trading Facility Operator must take all reasonable steps to ensure that finality of settlement is achieved within 24 hours. A Digital Asset Trading Facility Operator and a Digital Asset Service Provider perform Client transactions in accordance with the "delivery versus payment" principle and pre-funding requirement. A Digital Asset Trading Facility Operator and a Digital Asset Service Provider execute the Client's instruction to purchase Digital Assets if the Client has fiat funds, execute the Client's instruction to sell Digital Assets if a Client has Digital Assets in a Digital Wallet according to rule 2.13.6. of the AIFC Rules On Digital Asset Activities dated September 10, 2023 (AIFC Rules No. FR00062 of 2023).

3.4.4. Execution and processing gratuitous (free of charge) transfers of Digital Assets between Clients are prohibited.

3.5. Communication with Clients and Financial Promotion

3.5.1. Digital Asset Service Providers communicate with Clients, as well as conduct Financial Promotions in accordance with Chapter 3 of the AIFC Conduct of Business Rules.

3.6. Privacy Tokens

3.6.1. A Digital Asset Trading Facility Operator and a Digital Asset Services Provider must comply with the requirements of rule 2.15 of the AIFC Rules On Digital Asset Activities dated September 10, 2023 (AIFC Rules No. FR00062 of 2023) regarding the prohibition on the use of Privacy Tokens and Devices in the provision of their services.

3.7. A Digital Asset Trading Facility Operator’s and Digital Asset Service Provider’s services involving transactions with their own tokens

3.7.1. Digital Asset Service Providers and Digital Asset Trading Facility Operators provide services involving transactions with their own tokens (Digital Assets), according to provisions and requirements provided under rules 2.8.2, 2.12 and 2.13 of the AIFC Rules On Digital Asset Activities dated September 10, 2023 (AIFC Rules No. FR00062 of 2023), as well as in accordance with the requirements set out in rules 4.2.4 and 5 of the AIFC Market Rules dated October 17, 2017 (AlFC Market Rules No.FR0003 0f 2017).